Central Mine Planning & Design Institute
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 20 Mar 2026 – 24 Mar 2026
- Listing date
- 30 Mar 2026
- Price band
- ₹163 – ₹172
- Issue price
- ₹172 per share
- Issue type
- Book Building issue
- Total issue size
- ₹1,842 Cr
- ISIN
- INE05HV01027
Valuation and performance
Valuation at offer price
₹172 per share
| Metric | Pre-issue | Post-issue |
|---|
About Central Mine Planning & Design Institute
Central Mine Planning & Design Institute Limited ('CMPDIL') was incorporated on November 01, 1975 at Patna, Bihar as a private limited company under the Companies Act, 1956 and converted into a public limited company pursuant to a resolution dated May 9, 2025 (fresh certificate of incorporation dated May 20, 2025); it is headquartered at Gondwana Place, Kanke Road, Ranchi, Jharkhand. The Company is a wholly owned subsidiary of Coal India Limited, with the President of India, acting through the Ministry of Coal, Government of India, and Coal India Limited as its Promoters. Per the CRISIL Report cited in the RHP, CMPDIL is 'one of the largest coal and mineral consultancy companies in India in terms 61.0% of market share in Fiscal 2025 and are the preferred consultant for Coal India Limited.' Its services span the entire lifecycle of mining operations, from initial exploration to closure of mines, delivered primarily on a nomination basis, with timelines typically ranging from 10 business days to up to 3 years. The Company operates through four verticals — geological exploration and resource evaluation; mine planning and design services; environment services; and geomatics and survey services — runs seven Regional Institutes (Asansol, Dhanbad, Ranchi, Nagpur, Bilaspur, Singrauli and Bhubaneshwar) and a network of eight laboratories monitoring air, water and noise parameters, and employed 2,657 people as of December 31, 2025. In Fiscal 2025 it recorded revenue from operations of ₹21,027.6 million and profit after tax of ₹6,669.1 million with zero borrowings. The IPO is a pure Offer for Sale of up to 107,100,000 equity shares by Coal India Limited; the Company will not receive any proceeds.
Company Analysis
from RHPCentral Mine Planning & Design Institute Limited (CMPDIL), a wholly owned subsidiary of state-owned Coal India Limited, is a mining and engineering consultancy offering consultancy and support services for the entire spectrum of coal and mineral exploration, mine planning and design, infrastructure engineering, environmental management, geomatics, specialized technology services and management systems.
Central Mine Planning & Design Institute Limited ('CMPDIL') was incorporated on November 01, 1975 at Patna, Bihar as a private limited company under the Companies Act, 1956 and converted into a public limited company pursuant to a resolution dated May 9, 2025 (fresh certificate of incorporation dated May 20, 2025); it is headquartered at Gondwana Place, Kanke Road, Ranchi, Jharkhand. The Company is a wholly owned subsidiary of Coal India Limited, with the President of India, acting through the Ministry of Coal, Government of India, and Coal India Limited as its Promoters. Per the CRISIL Report cited in the RHP, CMPDIL is 'one of the largest coal and mineral consultancy companies in India in terms 61.0% of market share in Fiscal 2025 and are the preferred consultant for Coal India Limited.' Its services span the entire lifecycle of mining operations, from initial exploration to closure of mines, delivered primarily on a nomination basis, with timelines typically ranging from 10 business days to up to 3 years. The Company operates through four verticals — geological exploration and resource evaluation; mine planning and design services; environment services; and geomatics and survey services — runs seven Regional Institutes (Asansol, Dhanbad, Ranchi, Nagpur, Bilaspur, Singrauli and Bhubaneshwar) and a network of eight laboratories monitoring air, water and noise parameters, and employed 2,657 people as of December 31, 2025. In Fiscal 2025 it recorded revenue from operations of ₹21,027.6 million and profit after tax of ₹6,669.1 million with zero borrowings. The IPO is a pure Offer for Sale of up to 107,100,000 equity shares by Coal India Limited; the Company will not receive any proceeds.
Objects of the Issue
- Carry out the Offer for Sale of up to 107,100,000 Equity Shares of face value of ₹2 each by the Promoter Selling Shareholder (Coal India Limited) p.120
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges (enhance visibility and brand image, provide liquidity and a public market for the Equity Shares in India); note the Company will not receive any proceeds from the Offer p.120
Issue Structure
- Total Issue
- Up to 107,100,000 Equity Shares of face value ₹ 2 each aggregating up to ₹ [●] million
- Fresh Issue
- Not applicable
- Offer for Sale
- Up to 107,100,000 Equity Shares of face value ₹ 2 each aggregating up to ₹ [●] million by Coal India Limited (Promoter Selling Shareholder)
- Face Value
- ₹ 2 each
Business Model
CMPDIL earns revenue from consultancy and support service fees on assignments tailored to site-specific requirements, awarded predominantly on a nomination basis (and in some cases via single tenders exclusive to it) mainly from government entities — parent Coal India Limited and its subsidiaries contributed 66.0% of revenue from operations in the nine months ended December 31, 2025 (67.1% in Fiscal 2025) and the Ministry of Coal contributed 28.4% in the nine months ended December 31, 2025. Its drilling and exploration activities are also funded by the government through the Central Sector Scheme (CSS) of the Ministry of Coal (₹7,351.8 million, 35.0% of revenue in Fiscal 2025) and National Mineral Exploration Trust (NMET) funding of the Ministry of Mines. Total revenue from operations was ₹21,027.6 million in Fiscal 2025 (₹14,896.5 million for the nine months ended December 31, 2025).
Business Segments
SWOT Analysis
- • Largest coal & mineral consultancy in India with 61.0% market share in Fiscal 2025 and preferred consultant for Coal India Limited(p.23)
- • Client assignments secured on a nomination basis / exclusive single tenders(p.23)
- • Multidisciplinary organisation offering a comprehensive range of services across the mining lifecycle(p.123)
- • Key consulting partner to Coal India Limited and Ministry of Coal with a diverse client base(p.123)
- • Operations driven by strong parentage of Coal India Limited(p.123)
- • Extensive expertise in executing exploration projects(p.123)
- • Owns one of India's largest coal-exploration infrastructures and largest fleet of exploratory drills(p.62)
- • Consistent track record of growth and financial performance (revenue from ₹13,860.9 mn FY23 to ₹21,027.6 mn FY25; zero borrowings)(p.123)
- • Heavy client concentration — top 10 clients contribute ~94–96% of revenue from operations(p.42)
- • Deep dependence on promoter group — Coal India Limited & subsidiaries account for 66.0%–82.7% of revenue from operations(p.42)
- • Vendor concentration — top 10 vendors (drilling, geophysical logging, security) were up to 30.9% of total expenses(p.45)
- • Dependence on government funding (Central Sector Scheme / NMET) for drilling & exploration — CSS alone was 25.7%–35.0% of revenue(p.47)
- • Service-line concentration — geological exploration & resource evaluation contributes 38.6%–46.2% of revenue(p.48)
- • Contingent liabilities of ₹2,108.3 million as of December 31, 2025 (incl. income tax ₹1,232.0 mn, GST ₹711.0 mn)(p.49)
- • Non-compliant board/committee composition under SEBI Listing Regulations & Companies Act; no independent directors; exemptions valid only till listing(p.50)
- • Very high related-party transactions — 74.2% to 89.1% of revenue from operations across periods(p.58)
- • Indian mining consultancy sector projected to grow to ₹43,274 million by Fiscal 2030 (4.8% 5-year CAGR from ₹34,252 million in Fiscal 2025)(p.23)
- • Global mining consultancy market projected to see significant growth over 2024–2031(p.23)
- • Strategic diversification into other minerals, infrastructure upgrades and clean-energy initiatives within coal and mineral sectors(p.70)
- • Client-base diversification and expansion of international operations leveraging exploration & planning experience(p.70)
- • Energy transition — shift to renewable energy may reduce demand for coal and hence for the Company's services(p.65)
- • Intensifying competition from independent consulting firms squeezing prices and margins(p.68)
- • Changing laws and regulations — new Labour Codes effective November 21, 2025, DPDP Act/Digital Personal Data Protection Rules, 2025 raise compliance costs(p.67)
- • Mining-industry cyclicality — economic downturns may reduce mining investment and demand for consulting services(p.70)
- • Seasonality — monsoon and extreme weather disrupt exploration and drilling activities, causing delays and higher costs(p.69)
- • Macroeconomic risk — future slowdown in the Indian economy could harm business and cash flows(p.79)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Coal India Limited | Corporate Promoter / Promoter Selling Shareholder | 100.0% | — |
| President of India, acting through the Ministry of Coal, Government of India | Promoter | Nil | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.